SINGAPORE (Yosefardi) – ASL Marine Holdings Ltd. has completed the acquisition of a joint venture company, PT Sindomas Precas, an Indonesian entity engaged in the business of concrete precast operations.
Sindo-Econ Pte. Ltd, a 50%-owned joint venture company of the Group with Econ Precast Pte Ltd, a wholly-owned subsidiary of Koon Holdings Limited, holds 90% of Sindomas, and Intan Overseas Investments Pte. Ltd., a wholly-owned subsidiary of the Company, holds 5% of Sindomas.
Accordingly, the ASL Marine has an effective interest of 50% in Sindomas. The total cash consideration for the acquisition is Rp1 billion.